Accounting for IGCSE & O level - Accounting Procedures (Section 20 - No. 2)
Advertising expenses were understated by £300 and sales were understated by £300. What is the required correction in the journal?
Debit advertising account and credit sum amount.
Debit sum amount and credit advertising account.
Debit advertising account and credit sales account.
Debit sales amount and credit advertising account.
Explanation
Debit the advertising account and credit the sum amount is the correct entry.
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